China is currently negotiating with the Gulf Cooperation Council – a political and economic alliance comprising Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman – and the Association of Southeast Asian Nations – a similar alliance comprising Brunei, Myanmar, Cambodia, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand, and Vietnam – to establish a three-way free trade agreement (FTA).
Chinese Premier Li Qiang spoke at the summit between the three sides, taking place in Kuala Lumpur, Malaysia, calling the gathering “a groundbreaking initiative” in cross-regional cooperation amid “a volatile international landscape and sluggish global growth.”
A joint statement from the three sides at the Kuala Lumpur summit committed each party to cooperation on renewable energy, finance, and food production, as well as a “rules-based multilateral trading system and economic globalization.”
China already has an FTA with ASEAN but has yet to reach a similar agreement …
